Are These Penny Stocks on Your Watchlist Right Now?
Finding penny stocks that others may not know about is a great way to stay ahead in the stock market. And, with the vast amount of research tools out there, every investor can be just as informed as those at the top. But, investing in penny stocks is all about having a thorough understanding of two things. And, when certain penny stocks climb, others can follow.
A perfect example of this is the bullish interest in tech stocks as SPRT stock climbed more than 40% today. Over the past six months, shares of SPRT stock have shot up by over 800% with more than 180% of that coming in the last month. But, investors should have a thorough understanding of the company, and what its ties are to the big gainer.
On one hand, investors need to know everything they can about the penny stocks they are interested in and the industry that the company works out of. This will ensure that there are no surprises when it comes to price action. For example, take
In addition, this will help to give you all the necessary information to make an informed decision about whether a stock is worth buying. On the other hand, investors should have a good idea of what speculative factors could come into play. This means understanding the news, and what events could occur in either the short or long term.
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All of this matters because penny stocks tend to be some of the most speculative and volatile assets out there. And as a result, prices can move very quickly with little notice. So, the ones with the most information are usually at quite an advantage over those with less. Considering all of this, let’s take a look at three penny stocks that you might not know about right now.
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3 Penny Stocks That You May Not Know About
- DatChat Inc. (NASDAQ: DATS)
- New Oriental Education & Technology Group Inc. (NYSE: EDU)
- Luokung Technology Corp. (NASDAQ: LKCO)
DatChat Inc. (NASDAQ: DATS)
DatChat Inc. is a communication software company that develops a mobile messaging application. Its app is called DatChat Messenger & Private Social Network and allows users to communicate with privacy and protection. DatChat is also currently developing a blockchain communications platform that is decentralized and lets businesses connect with consumers.
On August 26th, the company announced a partnership with Rutgers Univesity Computer Science through its Industry Affiliates Program. This will provide DatChat access to Rutgers engineering collateral, talent, and industry-leading research and information. DatChat will receive an open invitation to attend all presentations and colloquia, as well as access to technical reports and papers. This is big news for the company and could help with the adoption of its products.
“We understand the importance of building tools and applications with the highest privacy and security standards, and our partnership with Rutgers University will provide access to information and up-and-coming engineering talent. Protecting users’ privacy and information is the future of sustainable technology business.”
Darin Myman, Founder and CEO of DatChat
On the day of this announcement, DATS stock is up 3% in the market. Considering this information, will DATS be on your penny stocks watchlist in 2021?
New Oriental Education & Technology Group Inc. (NYSE: EDU)
New Oriental Education & Technology Group Inc. is a company that offers K-12 private educational test preparation services in China. As of May 31st, 2020 the company’s services and programs were offered in 104 schools, 1,361 learning centers, and 12 bookstores. New Oriental is the largest provider of private educational services in China.
On August 18th, the company provided an update on regulatory development. The company announced that the Beijing Municipality Government and the Beijing Municipal Committee of the Communist Party of China jointly issued the “Beijing Municipality’s Measures to Further Reduce the Burden of Homework and After-School Tutoring on Students in Compulsory Education in Beijing”.
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The Beijing Measures have provided a lot of provisions. These include no new provider of after-school tutoring services on academic subjects in China’s compulsory education system will be approved. After-school providers are also prohibited from providing academic AST during any weekend, national holiday, or winter and summer break period. These are all things that can affect New Oriental’s business. And for that reason, investors should keep them in mind.
However, it seems as though the backlash from this announcement has already led to a correction with many China-based education stocks. So, do you think that EDU stock could see bullish sentiment as it comes to terms with this? All in all, New Oriental looks like it could be an interesting penny stock to keep an eye on in the coming months.
Luokung Technology Corp. (NASDAQ: LKCO)
Luokung Technology Corp. is a tech penny stock that just went up 11% in the market. In the past five days, that number jumps to over 29%, and in the past twelve months, buy over 217%. This is a company that provides location-based services and mobile apps for long-distance travelers in China. Its Luokuang mobile application is a content and service distribution platform providing customers with lots of useful information. The services on the application include but are not limited to e-commerce, travel, and entertainment.
On August 26th, the company reported its preliminary results for the first half of 2021. During the first half of the year, Luokung reported record revenues of $37.8 million compared to $7.3 million the previous year. Its revenue from its LBS business was $31.6 million, which was a 345.1% increase year over year. These numbers are very positive and show major growth for Luokung. As a result, we see just why its share prices have increased so heavily in the past few months.
“Our continued investment in technology has resulted in what we believe is a superior portfolio of products and a competitive edge in the markets in which we operate. We are very pleased with our market growth in 2021, which has enabled us to achieve record revenues during this period, growing revenue by more than five times that of the prior-year period.”
Chairman and CEO of Luokung, Mr. Xuesong Song
On the same day of the announcement, LKCO stock saw major bullish sentiment, pushing up to over $1.62 per share. With all of this in mind, is LKCO stock worth adding to your list of penny stocks to watch right now?
Which Penny Stocks Are You Watching Right Now?
With so much momentum in the stock market, finding the best penny stocks to buy can be a challenge. However, given that there is a lot of opportunity for a post-Covid recovery, many traders remain optimistic about the future.
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While there is a lot to keep track of right now, staying ahead of the game can mean the difference between profits and losses. Considering all of this, which penny stocks are you watching right now?
